Unemployment and inflation in Ireland: 1926-2012

  • Since the 1970s, the overarching view in the literature has been that a Phillips curve relationship did not exist in Ireland prior to the 1979 exchange rate break with Sterling. It was argued that, as a small open economy, prices were determined externally. To test this relationship, we study the determination of inflation between 1926 and 2012, a longer sample period than any previously used. We find that the difference between unemployment and the NAIRU is a significant determinant of inflation both in the full sample and in the subsamples spanning the periods before and after the Sterling parity link.

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Metadaten
Author:Stefan GerlachGND, Reamonn Lydon, Rebecca Stuart
URN:urn:nbn:de:hebis:30:3-382848
URL:http://ssrn.com/abstract=2663343
DOI:https://doi.org/10.2139/ssrn.2663343
Parent Title (English):Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 514
Series (Serial Number):CFS working paper series (514)
Publisher:Center for Financial Studies
Place of publication:Frankfurt, M.
Document Type:Working Paper
Language:English
Date of Publication (online):2015/09/22
Date of first Publication:2015/09/22
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2015/10/08
Tag:Ireland; historical statistics; import prices; inflation; unemployment
Issue:July 30, 2015
Page Number:34
HeBIS-PPN:366777831
Institutes:Wirtschaftswissenschaften / Wirtschaftswissenschaften
Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Sammlungen:Universitätspublikationen
Licence (German):License LogoDeutsches Urheberrecht